PRIMO LEADING NEWS
WEEK SEPT 9TH TO 13TH
Cargo crime in North America has significantly increased, with a 49% surge in thefts and losses averaging $115,230 per incident in the first half of 2024, driven by more organized and technologically sophisticated criminal activities. The scale and frequency of these thefts highlight the urgent need for enhanced risk management and control measures over shipments. PRIMO addresses this escalating challenge by offering advanced shipment tracking and robust support, ensuring cargo security and aiding in the prevention of theft.
The National Tank Truck Carriers (NTTC) is advocating for the Transportation Security Screening Modernization Act to eliminate redundant background checks and fees for truck drivers, simplifying the security clearance process and reducing the burden on supply chain workers. This legislation has garnered significant bipartisan support and is poised for swift passage, aiming to enhance efficiency in the trucking industry. PRIMO’s integration of advanced carrier compliance and a fully vetted network directly addresses the industry’s challenge of efficiently vetting carriers, offering a streamlined solution amidst these regulatory advancements.
OPEC+ decided to postpone planned oil output increases for two months after observing a sharp decline in oil prices, driven by weak demand and poor economic indicators from major consumers like China and the U.S. This decision temporarily stabilizes prices but may defer economic challenges to a later date. PRIMO’s integrated freight management solutions alleviate the complexities and uncertainties in fuel surcharge adjustments following fluctuating OPEC decisions, ensuring consistent and accurate billing for shippers.
The American Trucking Associations reported a slight increase of 0.3% in the For-Hire Truck Tonnage Index for July, following a decrease in June, indicating a potential stabilization in the truck freight market. Factors such as strong import activity and modest gains in retail sales and factory output contributed to this uptick. This trend of increasing truck tonnage underscores a growing demand for freight capacity, which can lead to higher transportation costs; PRIMO addresses this challenge through advanced analytics and strategic optimization to ensure efficient load matching and cost-effective freight management.
The Washington Bridge in Providence, R.I., is undergoing significant upgrades, including the installation of a state-of-the-art weigh-in-motion (WIM) system by Kistler, which utilizes digital quartz sensors and other technologies to monitor the bridge’s structural health in real-time. This proactive maintenance approach, supported by the largest WIM site globally, allows for immediate identification and addressing of structural issues, potentially reducing long-term repair costs. PRIMO’s integration capabilities with advanced technologies ensure seamless compliance and operational efficiency for carriers, addressing the pain point of adapting to and implementing new technologies in freight and logistics.